All Forum Posts by: Tony Mencome

Ask them what they believe a fair rent is for the area, property etc. 

1-If they tell you they are paying a fair price, let them know taxes, insurance and comps have gone up and ask again. 

2-If they come up just a little, tell them that might make an OK(?) month to month rental. 

3-If they give you a good value, the $150 additional or more, which does happen, agree to the longer term and tell them you appreciate having them as your guest.

I was able to get First Citizens to HELOC my primary. Was then told they may be able to HELOC a investment as a "business HELOC. Still a work in progress. Not much luck with HELOC on investments/non-primary.

From what I have learned it must be a "Self Directed" "Non Recourse" IRA. Lots of rules. NO personal use no crossing the line between personal and business.

 Within the last 3 months I have been told the same by BB&T/Truist, RidgeLending and most recently First Citizens.